Mississippi Casino Blues Continues In 2013

Mississippi Casino Blues Continues In 2013The Mississippi Gaming Commission has released its casino results for August, revealing a slight rise in revenue to $179.1 million compared to $178.4 million for the same month a year ago.
Breaking the figures down further, the 12 Gulf Coast casinos generated $90 million in revenue, up 4.3% over last August’s tally of $86.3 million. However, the 18 riverboat casinos saw thier revenues decline by 3.3% to $89 million compared to the $92.1 million reported last year.
Mississippi’s latest casino figures represents only the second time revenue has increased in the southern state this year, and just further highlights the challenges facing Mississippi’s beleagured gaming industry, which has been in steady decline since 2007. July 2008 then saw Mississippi’s single-month winnings hit a record $268 million before consistently dropping off to their current levels.
As well as the global recession affecting growth, increased  competition from nearby states such as Arkansas and Louisiana have added to Mississippi’s woes. Last month, for instance, Louisiana saw its  casino figures rise by an impressive 14% to $215 million compared to the $188 million generated for the same month the previous year. Louisiana has now seen its casino revenue figures increase steadily over the past few years, with the $2.4 billion the state collected in 2012 a marked improvement on the $2.37 billion it collected in 2011.
Commenting on  Mississippi’s worrying situation, Gaming Commission executive director Allen Godfrey, said: “People are more cautious with their money now..They just stopped coming. And we have to come up with the amenities to bring them back.”
Nevertheless, Mississippi can take solace in the fact that it is just one of many US markets also suffering declines in recent times. States posting declines in August, for instance, include Missouri down 3.4% decline to $89.2 million; Detroit down 3.5% to $112.9 million; Atlantic City down 4.8% to $298m; Michigan down 3.5% to $112.9m, and Ohio down 1.6% to $70.9m.

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